News Release

20th June 2023

Boluda Towage Expands Presence in Asia through Strategic Investment in Hongkong Salvage & Towage Services

Boluda Towage (“Boluda”), the world’s largest tugboat operator, announces its strategic investment in Hongkong Salvage and Towage Services Limited (“HKSTS”), a new joint venture formed as a member of CK Hutchison Holdings. HKSTS’ principal services include salvage and towage and marine project management business. Through this collaboration, Boluda will be able to expand its business portfolio into Asia and enhance HKSTS service offerings of salvage and towage services, benefiting both companies, business customers and the maritime industry.

A signing ceremony has been held to commemorate the special occasion and attended by the senior management teams of Boluda and Hutchison Ports.

Vicente Boluda said: “Boluda’s entry into the Hongkong Salvage and Towage Services Limited partnership has been a unique and formidable opportunity to strengthen Boluda Towage in the Asian continent and especially in one of its main ports, Hong Kong. We thank our new partners for the trust they have placed in the Boluda family to be associated with the towage business in Hong Kong.”

Commenting on the partnership with Boluda, Eric Ip, Group Managing Director of Hutchison Ports, said, “We are very pleased with this major strategic and complementary partnership. Boluda is recognised as a global leader in maritime services. Its extensive experience in tugboat services will boost our salvage and towage capabilities, creating a strong alliance that will benefit our customers in terms of integrated service offerings. HKSTS is excited to join the Boluda family. We look forward to working with our partner throughout our network of ports.”

The collaboration signifies both companies will join forces to develop business opportunities with innovative solutions, supported by Boluda’s fleet of over 700 vessels and Hutchison Ports’ network of 54 ports in 25 countries.

Chinese version click here.